These TAX RETURNS must have some HORRIBLE things in them. They have made a calculated decision....

[Logical]

that not releasing them, and taking hits on it for 4 months, is better than releasing them.

And even GOP friends are saying that this is an issue and he needs to release them.

What is the worst they could show? No taxes? Seems like if he followed the law he should be ok.

Maybe donations to groups that make him look liberal?

This should be interesting.

[HooptieWagon]

1. I assume they've weighed the pros and cons...

and that whatever is on the tax filings is worse than the beating hes taking.

[Tennessee Gal]

2. At the very least, they will cement in stone that he is not interested in tax

policies that will benefit the vast majority of hard working Americans.

[mucifer]

4. You might not realize it but you are quoting Rahm Emanuel:

&feature=player_embedded

[Logical]

5. Maybe he is quoting me! :-) Thanks for the video though!

[mucifer]

19. Touche!

[treestar]

7. And he cleaned up 2010 and 2011

Interesting he did not clean up for 2009 - didn't he know he was running for President? He must have seen the problem when they released them to the McCain campaign.

[treestar]

6. I agree.

Maybe even if he followed the law, it might not look so good in that he would obviously be part of an elite and some aspects of it might look bad or make it look like the rich get too many privileges. People may say the rich deserve their wealth, but that does not translate into thinking the rich should not pay taxes proportionately.

[msanthrope]

8. The tax returns could show post 9/11 investments that might not

be easy to explain.....

If Bain made money betting against America, then Rmoney has 'splaining to do.

[BumRushDaShow]

9. Remember that the monied class were barely audited

and it's only recently that it has picked up.

http://money.cnn.com/2012/03/23/pf/taxes/tax_audits_millionaires/index.htm

http://articles.latimes.com/2012/mar/24/business/la-fi-irs-millionaires-20120324

http://www.usatoday.com/money/perfi/taxes/story/2012-01-06/IRS-audits/52411620/1

And this one is interesting: http://trac.syr.edu/tracirs/findings/aboutIRS/keyFindings.html

IRS Goes After Fewer and Fewer Wealthy Americans

The IRS has long looked favorably on what it calls Service Center (correspondence) audits. This is because they are relatively inexpensive to conduct and bring in a lot of revenue. In a time of limited IRS staffing, the relative importance of the program has grown. Last year, for example, 40% of all additional taxes through audit claimed by the IRS from individual taxpayers was the result of correspondence as distinguish from face-to-face (district) audits. (See graph and table.)

In the last ten years, the basic nature of this Service Center program has undergone substantial change as the number of wealthier taxpayers selected for a correspondence audit crumbled. In 1992, high income taxpayers had the highest correspondence audit rates. Today, they are below average. The IRS has drastically cut back on the number of these cost-effective audits directed at individuals reporting $100,000 or more although they are the most productive in locating tax underreporting. While there has been a major increase in the number of such taxpayers, IRS audits of this group went from 74,566 in 1992, to 29,086 in 2001. The decline in high income audits occurred even though the highest level of tax underreporting was uncovered among this group. (See graph and table.)

A similar dramatic also occurred for high income business (Schedule C) filers reporting gross receipts of $100,000 or more. In 1992, such high income business taxpayers had the second highest correspondence audit rates. Today, they are well below average. IRS audits of these high income business filers went from 12,743 in 1992, to a mere 5,556 in 2001 -- yet these were second only to high income taxpayers in turning up high levels of tax underreporting. (See graph and table.)

[Logical]

10. Good points! n-t

[loudsue]

11. I'm wondering if this is the Bush's way of getting Jeb on the republican ticket

at the republican national convention. If Mitt becomes a political leper, wouldn't the bush crime family use this opportunity for a shock & awe at the convention? It would make the Obama administration have to drop back & regroup...making them off balance.

It wouldn't surprise me even for a minute. I know the amount of money that the big dogs are willing to throw into the ring.

[tblue37]

29. That is sort of what I have been thinking. The fact that

Republicans are starting to slam him makes me think the party is trying to force him to drop out so they can nominate someone more electable--maybe not another Bush yet, but someone, almost anyone, other than Romney.

And since the primaries are over, they could then do that in the old fashioned smoke-filled room way, without having the nomination fall to one of the other unelectable Clown Car rejects from the primary season.

[PatSeg]

12. And the longer he refuses to release them,

the more outrageous the theories will become. That's what happens when people keep secrets. Sometimes the truth isn't nearly as bad as what people guess it might be.

Of course, sometimes it can be even worse!

[Avalux]

13. I think the returns will show he paid no taxes for years and also drew a salary from Bain post 2002.

While maybe not illegal; very damaging just the same. If he didn't pay any taxes, it means he gamed the system by using every conceivable loophole in the tax code and stashed his wealth out of the country.

[Frank Cannon]

24. I think they show he donated MILLIONS to Sandusky's Second Mile.

Of course, I could be wrong about that. But he could easily prove it by showing us those returns.

As the old Republican adage goes, if you've done nothing wrong, you've got nothing to hide.

[Logical]

40. +1

[Lizzie Poppet]

14. If he paid no taxes, it WOULD be worse than this furor, IMO.

Even if every shelter he used to achieve zero (or nearly so) tax liability were perfectly legal, I think it woudl still prove to be a fatal blow to his campaign. A great big part of the swing state, undecided demographic that decides this and every other recent presidential election will consist of people for whom the current economic malaise is creating hardship. The sight of a .001%'er paying zero taxes while he amasses hundreds of millions of dollars via shipping jobs overseas will make their blood boil.

[Sgent]

15. It could show near criminal tax evasion

and I'm a bit upset the media hasn't picked up on it.

December 15, 2009 was the last day for people holding undeclared (hidden) overseas assets to voluntarily "come clean", pay interest and penalties, and escape the chance of a criminal prosecution. This came about after the Swiss banks finally agreed to list US account holder's names / social to the IRS.

This would be on Romney's 2008-2009 tax return (which is why he's only released back to 2010).

[aint_no_life_nowhere]

16. Mileage deductions for his space craft

[snot]

32. Or his time machine.

[trackfan]

17. I hadn't thought of the "donations to groups that make him look liberal" angle.

If, say, he had several years with large donations to Planned Parenthood, it would destroy him among his base.

[Logical]

18. I would LOVE that! n-t

[gollygee]

20. He made a crapload of money from Bain

It was at least $100,000, and could have been a very very large amount of money.

[Frustratedlady]

34. I believe the correct working for that category is "over $100,000" isn't it?

We all mention the $100,000, but this category could be way over the $100K.

Correct me if I'm wrong.

[gollygee]

39. Oh, I mean a CRAPLOAD like way way way way over $100k.

I bet he made so much no one would ever believe he didn't have a serious role there.

And I bet that's only one of the problems. He's the type who thinks rules were made for common people, not him.

[Logical]

37. True! n-t

[thelordofhell]

21. McCain looked at them and concluded he couldn't be a Vice-President

[Logical]

41. Great point! n-t

[KharmaTrain]

22. Three Bombshells...

1.) He didn't pay the 13.9% capital gains rate on his investments he claimed. He paid far less...more along the lines of ZERO for many of those years.

2.) He sheltered a large amount of his income offshore that includes large amounts of stock in Bain captial that proves he is still profits from the company's vulture capitalism

3.) It'll show he lied to either the IRS or SEC on various filings over the years. It also would disclose shell corporations that he's used/using to shelter even more taxable income.

With his wealth, he had the mean to hire bookkeepers and "financial" advisers to help bury his money far and wide and Mittens covets that money more than the power it brings. He will stonewall as he know if the truth is revealed his world collapses...

[Logical]

23. Very possible all three are true. I also think who he donated money to might be an issue. n-t

[KharmaTrain]

27. Could Be...

Just think of the feeding frenzy that would happen once he released some of those taxes. I assure you it would reveal a lot of surprises...how could it not? And the hunger for more.

This fiasco is self-inflicted and fascinating to watch how this is playing out...

[NNN0LHI]

25. Bet he had Ann doing some ghost employee type work and making plenty of dough for doing nothing

That is the way the wealthy do it around here.

Don

[kentuck]

26. If necessary....

Romney will invite one reporter (from FOX) to take a look at a couple of more years of tax returns, which is double what is required, and hope that clears up the questions. He will not, he cannot, show all of his returns.

What is he hiding? All of America, not just Democrats, should be asking this question until we get some answers. Electing a President is not some automatic procedure we go thru without knowing anything about who we are going to vote for. Come clean, Mr Romney. Follow the advice of George Will and Bill Kristol, two of the most respected conservatives in your Party.

[lonestarnot]

28. Must have.

[randome]

30. 'Calculated decision'? They're reacting like scared rabbits to the sound of a woodchipper.

The only things rabbits know then is HIDE!

[antigop]

31. You also have to list your occupations(s) on your 1040.

Would be interesting to see what he put down for years 1999-2002.

[HooptieWagon]

35. And your address...

[madokie]

33. This could be a Karl Roveish type setup too

kind of like they did Dan Rather. Its possible that the mitster is clean and they want to let this build to a crescendo and then release the tax returns. I said its possible but I also think its not probable.

[Logical]

36. I thought about that also. But they are really getting hammered a lot now. Maybe backfiring. n-t

[MyshkinCommaPrince]

38. Yes.

I've been a bit concerned about this possibility. Who, in the Romney camp, said they have a plan and they're following that plan?

[cbdo2007]

42. they've let it all go on too long for too little payoff....

This crossed my mind last week also, but with even Repubes now giving Mitt bad press, that can't be helping things.

Mitt clearly LOST the past two weeks on the campaign trail, which is a very bad sign.

[randome]

44. Karl Rove has not been in charge for a long time.

He is not the evil mastermind some imagine him to be.

[emulatorloo]

46. Don't forget American Crossroads and Crossroads GPS

That being said, there is something dirty in Romney's returns. Obama team is moving with a lot of certainty. They know. This isn't a Rove Ploy. Rmoney is dirty.

[Logical]

48. +1

[madokie]

47. And you know this

Exactly how? May I ask

[Kablooie]

43. Maybe he's been cooking the books and he's really broke.

[Logical]

45. Interesting point! N-t